Martin Capital Advisors LLP Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Martin Capital Advisors LLP lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,902 shares of the technology company’s stock after selling 180 shares during the period. Martin Capital Advisors LLP’s holdings in GoDaddy were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Ingalls & Snyder LLC lifted its stake in shares of GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after purchasing an additional 120 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of GoDaddy by 7.6% in the third quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $144,000 after acquiring an additional 137 shares in the last quarter. Whittier Trust Co. increased its position in shares of GoDaddy by 9.1% in the third quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock worth $125,000 after acquiring an additional 141 shares in the last quarter. Quent Capital LLC raised its stake in shares of GoDaddy by 30.8% in the 4th quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after acquiring an additional 150 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock valued at $77,000 after acquiring an additional 157 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Down 1.0 %

NYSE:GDDY traded down $1.23 during mid-day trading on Friday, reaching $120.12. The stock had a trading volume of 1,126,524 shares, compared to its average volume of 1,477,850. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $127.15. The stock’s 50 day simple moving average is $117.43 and its two-hundred day simple moving average is $102.73. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 12.66 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. Equities analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares in the company, valued at $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several research reports. UBS Group raised their price objective on GoDaddy from $110.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $124.00 price objective on shares of GoDaddy in a research report on Thursday, March 7th. B. Riley boosted their target price on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.18.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.